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An insurance agent has suggested that I buy term insurance instead of whole life. Does it makesense to buy term and invest the difference?
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That is a smart and honest agent. Yes, absolutely buy term, not whole life, and invest the difference.Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going. -
The important factor here is invest the difference.
If you buy term, then SPEND the difference, whole life with a sub account might be a better option.
If you are disciplined and see that whole life costs $100/mo and term costs $20/mo, and then invest that $80 difference each month, in 30 years you will be ahead of where you are now or where you would be if you bought $100/mo worth of whole life.Comment
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